Interest rates cut... but don't expect more straight away

The rate cut has come at last.This is more than just the Bank of England cutting its base interest rate for the first time in four years.The cut will be seen as an important staging post as the economy starts to turn the corner on years of inflationary shocks. It is opportune timing for the new chancellor and government, with a strong pound helping contain some inflationary pressures from imports.There will be…